DRD bid rejected
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Tuesday, 27 April, 2004 - 22:00
THE independent directors of Emperor Mines Limited have recommended the company’s shareholders reject the Durban Roodepoort Deep takeover offer of one DRD share for every five Emperor shares.
The directors say an independent expert’s report concludes that the DRD offer is neither fair nor reasonable and this has been one of the factors that has driven their recommendation.
The company is finalising its target’s statement, which will be released to Emperor shareholders on April 28.
DRD is the largest shareholder in Emperor and began its takeover action on March 8.
Emperor is a gold miner that operates the Emperor Gold Mine at Vatukola, Fiji.
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